56-27-103 - Formation of medical service plan corporation. - Tennessee Statutes

56-27-103. Formation of medical service plan corporation.

Nine (9) natural persons of full age and of either sex, all of whom are residents of this state and citizens of the United States, and at least a majority of whom are doctors of medicine licensed to practice medicine and surgery in this state, may form, under the laws of this state relating to benevolent corporations, so far as these laws are applicable and are not inconsistent with this chapter, a nonprofit medical service plan corporation for the purpose of establishing and operating a medical service plan or plans. The corporation shall be subject to regulation and supervision by the commissioner and is expressly made subject to the applicable insurance laws of this code.

[Acts 1945, ch. 113, § 3; C. Supp. 1950, § 4186.20; T.C.A. (orig. ed.), § 56-2903.]